Royal Bank of Canada Issues Positive Forecast for Howmet Aerospace (NYSE:HWM) Stock Price

Howmet Aerospace (NYSE:HWM) had its price target lifted by equities research analysts at Royal Bank of Canada from $105.00 to $135.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 19.82% from the stock’s previous close.

HWM has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Susquehanna lifted their target price on shares of Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a research report on Thursday. BTIG Research upped their price target on shares of Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Truist Financial boosted their price objective on Howmet Aerospace from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $107.81.

Howmet Aerospace Stock Performance

Shares of HWM traded down $2.19 during trading hours on Thursday, hitting $112.67. The stock had a trading volume of 797,956 shares, compared to its average volume of 2,948,612. The firm has a 50-day moving average price of $99.39 and a 200 day moving average price of $88.58. Howmet Aerospace has a fifty-two week low of $47.88 and a fifty-two week high of $115.38. The firm has a market capitalization of $45.99 billion, a price-to-earnings ratio of 49.92, a PEG ratio of 1.45 and a beta of 1.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.85 billion. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. As a group, research analysts anticipate that Howmet Aerospace will post 2.59 EPS for the current year.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the sale, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the sale, the chief financial officer now owns 155,135 shares in the company, valued at $14,982,938.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the transaction, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.

Institutional Trading of Howmet Aerospace

A number of large investors have recently made changes to their positions in HWM. Senator Investment Group LP raised its holdings in shares of Howmet Aerospace by 24.8% in the 2nd quarter. Senator Investment Group LP now owns 156,000 shares of the company’s stock valued at $12,110,000 after purchasing an additional 31,000 shares in the last quarter. Terra Nova Asset Management LLC acquired a new position in shares of Howmet Aerospace during the third quarter worth $1,264,000. Wealthspire Advisors LLC purchased a new position in Howmet Aerospace in the second quarter valued at $209,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Howmet Aerospace by 1,258.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,051 shares of the company’s stock valued at $206,000 after buying an additional 1,900 shares during the last quarter. Finally, Blair William & Co. IL raised its stake in Howmet Aerospace by 51.6% in the first quarter. Blair William & Co. IL now owns 25,488 shares of the company’s stock valued at $1,744,000 after buying an additional 8,676 shares in the last quarter. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Howmet Aerospace Company Profile

Howmet Aerospace Inc provides advanced engineered solutions for the aerospace and transportation industries in the United States, Japan, France, Germany, the United Kingdom, Mexico, Italy, Canada, Poland, China, and internationally. It operates through four segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels.